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Silver Price Analysis: XAG/USD tests resistance at around $28.70 shy of reclaiming $29.00
Silver's price moved higher late in the North American session due to lower US Treasury yields and a softer US Dollar. Although the latest inflation figures in the US were higher than expected, the non-yielding metal climbed. The XAG/USD trades at $28.57, gains 1.32%. During the last three days, Silver has been seesawing within the $28.00-$28.80 range after registering exponential gains since May 2, which brought the grey metal’s price from around $26.02 to current spot prices. XAG/USD is upward biased, though is at the brisk of forming a ‘double top.’ Momentum favors buyers, with the Relative Strength Index ... (full story)
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From @financialjuice|May 14, 2024post:
FED'S MESTER: I AM NOT EAGER TO CONSIDER INTEREST-RATE HIKES - WSJ. post: FED'S MESTER: FED IS IN A REALLY GOOD PLACE TO STUDY THE ECONOMY BEFORE CHARTING RATE PATH. post: FED'S MESTER: IT’S TOO EARLY TO REALLY CONCLUDE THAT WE STALLED OUT OR THAT INFLATION IS GOING TO REVERSE. post: FED'S MESTER: THERE ARE DEFINITE SIGNS THAT REAL SIDE OF ECONOMY IS MODERATING, AND THAT IS HELPING TO BRING BALANCE BACK TO THE ECONOMY - WSJ.
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- Posted: May 14, 2024 5:15pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 223
